Equities Analysts Issue Forecasts for Chegg Inc’s Q1 2018 Earnings (CHGG)

Chegg Inc (NYSE:CHGG) – Analysts at Barrington Research issued their Q1 2018 earnings estimates for Chegg in a research report issued on Tuesday. Barrington Research analyst A. Paris. Jr expects that the technology company will post earnings per share of $0.02 for the quarter. Barrington Research currently has a “Outperform” rating and a $22.00 target price on the stock. Barrington Research also issued estimates for Chegg’s Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at ($0.01) EPS, Q4 2018 earnings at $0.14 EPS and FY2018 earnings at $0.17 EPS.

Chegg (NYSE:CHGG) last released its earnings results on Monday, February 12th. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. Chegg had a negative return on equity of 2.64% and a negative net margin of 7.95%. The firm had revenue of $73.51 million for the quarter, compared to the consensus estimate of $70.61 million. During the same period in the prior year, the firm earned $0.10 EPS. The firm’s revenue was up 16.5% on a year-over-year basis.

Several other research firms also recently issued reports on CHGG. Citigroup started coverage on Chegg in a research report on Monday, November 20th. They issued a “buy” rating and a $19.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Chegg from $15.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. Northland Securities reaffirmed a “buy” rating and issued a $20.00 price target on shares of Chegg in a report on Tuesday, January 9th. BMO Capital Markets reaffirmed a “buy” rating and issued a $20.00 price target on shares of Chegg in a report on Wednesday, January 17th. Finally, BidaskClub raised shares of Chegg from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Chegg currently has a consensus rating of “Buy” and an average target price of $17.09.

Chegg (CHGG) opened at $18.99 on Thursday. Chegg has a 12-month low of $7.81 and a 12-month high of $19.96. The stock has a market capitalization of $2,100.14, a price-to-earnings ratio of -90.42, a P/E/G ratio of 7.51 and a beta of 1.74.

Several hedge funds have recently bought and sold shares of the company. Castleark Management LLC boosted its stake in shares of Chegg by 10.6% during the 4th quarter. Castleark Management LLC now owns 1,111,164 shares of the technology company’s stock worth $18,134,000 after acquiring an additional 106,305 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Chegg by 55.8% during the 4th quarter. Macquarie Group Ltd. now owns 232,556 shares of the technology company’s stock worth $3,795,000 after acquiring an additional 83,256 shares in the last quarter. Greenhouse Funds LLLP boosted its stake in shares of Chegg by 12.8% during the 4th quarter. Greenhouse Funds LLLP now owns 2,099,758 shares of the technology company’s stock worth $34,268,000 after acquiring an additional 238,814 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Chegg during the 4th quarter worth about $388,000. Finally, Teachers Advisors LLC boosted its stake in shares of Chegg by 10.1% during the 4th quarter. Teachers Advisors LLC now owns 172,428 shares of the technology company’s stock worth $2,814,000 after acquiring an additional 15,876 shares in the last quarter.

In other news, insider Esther Lem sold 10,000 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $14.36, for a total transaction of $143,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael A. Osier sold 200,000 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $15.25, for a total transaction of $3,050,000.00. Following the sale, the insider now directly owns 653,061 shares in the company, valued at $9,959,180.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 869,323 shares of company stock worth $14,302,385. 20.40% of the stock is owned by corporate insiders.

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About Chegg

Chegg, Inc is a student-first connected learning platform. The Company helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States.

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